File #: 16-1898    Version: 1 Name: Resolution - A Resolution of the City of Mansfield, Texas, Approving the Terms and Conditions of an Term Sheet with Bp Holdings, Pursuant to a Program to Promote Economic Development and Stimulate Business and Commercial Activity in the City; Authorizing
Type: Resolution Status: Passed
File created: 6/16/2016 In control: City Council
On agenda: 6/20/2016 Final action: 6/20/2016
Title: Resolution - A Resolution of the City of Mansfield, Texas, Approving the Terms and Conditions of a Term Sheet with Bp Holdings, Pursuant to a Program to Promote Economic Development and Stimulate Business and Commercial Activity in the City; Authorizing the City Manager to Execute Said Term Sheet for Such Purposes; and Providing an Effective Date
Sponsors: Clayton Chandler, Scott Welmaker
Attachments: 1. FINAL BP Holdings Term Sheet, 2. Resolution - BP Holdings Terms Agreement

Title

Resolution - A Resolution of the City of Mansfield, Texas, Approving the Terms and Conditions of a Term Sheet with Bp Holdings, Pursuant to a Program to Promote Economic Development and Stimulate Business and Commercial Activity in the City; Authorizing the City Manager to Execute Said Term Sheet for Such Purposes; and Providing an Effective Date

 

Requested Action

Consider resolution for FINAL AMC Term Sheet

 

Recommendation

Approve Resolution

 

Description/History

AMC Principals and developer have agreed to the attached term sheet with MEDC.  Intent to Grant Tax Abatement was approved by Resolution on May 9, 2016

 

Prepared by

Scott Welmaker, Mansfield Economic Development Corporation, 817-266-5890